Housing firm bags EU cash for energy efficiency

A housing association has been granted funding to retrofit homes in the UK. Sovereign has signed a £150 million deal with the European Investment Bank (EIB) to support its plans […]

By Priyanka Shrestha

A housing association has been granted funding to retrofit homes in the UK.

Sovereign has signed a £150 million deal with the European Investment Bank (EIB) to support its plans to build 4,500 new homes in the next three years.

Part of the funding will be used to improve the energy efficiency of its existing homes, including enhanced insulation and the replacement of doors and windows.

Sovereign, the sixth largest housing association in the country, has more than 56,000 homes.

EIB Vice President Jonathan Taylor visited the company in Newbury, Berkshire, to see some of the sites that may benefit from the funding.

He said: “This week’s visit to Newbury provides a valuable opportunity to see how upgrading existing properties and the construction of new social housing will improve lives, create jobs, benefit local suppliers and cut heating bills in homes for hundreds of families across southern England.”